Posts Tagged ‘debt’

Get out your note pad. This episode is packed with information you will want to write down.

Jordan E. Goodman is “America’s Money Answers Man” and a nationally-recognized expert on personal finance. He is a regular guest on numerous radio and television call-in shows across the country, answering questions on personal financial topics. He appears frequently on The View, Fox News Network, Fox Business Network, CNN, CNBC and CBS evening news.

For 18 years, Jordan was on the editorial staff of Money magazine, where he served as Wall Street correspondent. While at Money, he reported and wrote on virtually every aspect of personal finance. In addition, he served as weekly financial analyst on NBC News at Sunrise for 9 years and the daily business news commentator on Mutual Broadcasting System’s America in the Morning show for 8 years.

If you suffer from chronic or ongoing debt, you’ll want to listen to this episode.

I was a compulsive debtor and have had a lot of experience dealing with debt. In this episode I talk about how my family background set the stage for my debting, including when my father went bankrupt. I also offer some insight into how you might be using debt to express habitual emotions.

As I point out in Build Your Money Muscles, we create our life stories to act out habitual emotions that range from constable to uncomfortable. If you often find yourself experiencing uncomfortable situations, not that these can often be reversed when you come to understand why you need them.

Because of my history of compulsive debting, I have had plenty of opportunities to examine the whys of debting. My father was a compulsive debtor and I learned to use debting as a way of expressing many feelings that included shame, embarrassment, fear of abandonment, unworthiness and more.

First, let’s look at the dynamic of debting. In every debting relationship there is obviously a debtor and a lender. Institutions, such as banks, make money when they lend money, and so do individuals — sometimes. However, many individual lenders have the same kind of emotional needs as debtors. Read more